Minot & Williston, ND

PORTFOLIO FEATURES

  • INVESTMENT SALE: $6,495,000
  • Rare multi-tenant industrial portfolio located in the heart of Bakken oil activity
  • Consists of 2 properties, 4 buildings, and 18 units totaling 97,376 SF of warehouse/shop space on 9.5 AC
  • Portfolio can be purchased in whole or divided. Click individual properties below to see investment details:
  • Rental rates are below market rates
  • Full portfolio occupancy is currently 88.82%
  • Priced below replacement costs
  • Buildings are all metal on concrete slabs and include sprinklers
  • Office sizes and layouts vary; most have an average of 7% office space
  • Bakken oil production activity is at an all-time high prompting market industrial vacancy rates to drop to 2%, which makes this investment ripe for sustainable returns

DUE DILIGENCE DOCUMENTS

Offering memorandum is available upon request with signed Confidentiality Agreement which can be downloaded HERE. Send completed CA to Melinda O’Brien at melinda.obrien@energyreco.com

INVESTMENT HIGHLIGHTS

  • BAKKEN OIL PRODUCTION UPSWING: The demand for Bakken oil in the global market is not disappearing anytime soon, keeping North Dakota shale play markets on an upward economic trajectory.In September, North Dakota production reached a new record of 1.36 million barrels per day, a change of +5.2% from the prior month and +22.7% from one year ago. The average monthly WTI price for September 2018 was $66.76 per barrel, a change of +2.2% from the prior month and +45.1% from one year ago
  • TIGHT INDUSTRIAL SUPPLY: As Bakken oil production continues to swell, industrial market conditions are experiencing increased demand, lowered inventories and shrinking vacancy rates. In North Dakota core market areas, which include Williston and Minot, we have average industrial vacancy rates as low as 2%, lease rates increasing to $12 to $14 per SF NNN, and terms ranging from 3 to 7 years.This all equates to a 30% increase in lease rates since the 2014 downtown. With this stabilization upswing, industrial investors have a very strong opportunity for future, sustainable returns.

CONTACTS

Melinda O’Brien
Transaction Manager
720.403.8427
melinda.obrien@energyreco.com

Mike Elliott
Managing Broker
701.713.6606
mike.elliott@energyreco.com

MINOT | SITE AERIAL

WILLISTON | SITE AERIAL